Those who could not accept the change to $16k to $19k as a change in trend will not be able to now if $40k drops. Short in case of rejection after retest.
Signs of weakness are visible and greed is at high levels.
On the other hand, the market will probably try to capture the liquidity marked on the chart.
Exiting the zone and accepting at $44.8k for a couple of days, we get information that the trend continues and that we are getting higher prices.
Below is a Wyckoff pattern that shows the distribution at these levels.
Signs of weakness are visible and greed is at high levels.
On the other hand, the market will probably try to capture the liquidity marked on the chart.
Exiting the zone and accepting at $44.8k for a couple of days, we get information that the trend continues and that we are getting higher prices.
Below is a Wyckoff pattern that shows the distribution at these levels.
